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Repsol Wins Final Permit to Drill for Oil Off Canary Islands

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Spain’s government gave Repsol SA final authorization to begin exploring off the Canary Islands, capping the energy company’s 12-year quest for permission to tap what may be the nation’s biggest oil find.

The Industry Ministry approved the project in an Aug. 11 resolution published today in the Official Bulletin. The Madrid-based company won environmental clearance in May from the Popular Party-led government, which is reinvigorating domestic energy exploration that largely withered during past decades.